The decision of the EU about €1 billion for Ukraine, published in the official newspaper

The specified decision will come into force on the day of the 20th summit Ukraine-EU which will take place in Brussels.

The decision of the European Parliament and of the Council of the European Union on granting Ukraine a fourth program of macro-financial assistance in the amount of one billion euros on Friday, 6 July, published in the Official journal of the EU. This decision will enter into force on the day of the 20th summit Ukraine-EU which will take place in Brussels.

“A prerequisite for the granting of macro-financial assistance of the Union should be that Ukraine respects effective democratic mechanisms – including a multi-party parliamentary system and the rule of law and guarantees respect for human rights. In addition, specific goals of macro-financial assistance of the Union should strengthen efficiency, transparency and accountability systems of public Finance management in Ukraine and to promote structural reforms aimed at supporting sustainable and inclusive economic growth, job creation and fiscal consolidation,” reads the decision.

The document also notes that the full amount of EU macro-financial assistance is provided to Ukraine in the form of loans.

The European Commission is empowered to borrow the necessary funds on the capital markets or financial institutions and provide them in Ukraine. The loan has a maximum average maturity of 15 years.

We will remind, earlier the President of the European Parliament Antonio Tajani signed a decision on granting Ukraine a one billion Euro macro-financial assistance.

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